1971 – the day Britain went Decimal

Decimal Day in the United Kingdom and in Ireland was on 15 February 1971, the day on which each country decimalised its respective currency of pounds, shillings, and pence. In the United Kingdom, the British pound was made up of 20 shillings, each of which was made up of 12 pence, a total of 240 pence. With the decimalisation, the pound kept its old value and name, and the only changes were in relation to the subunits. The shilling was abolished, and the pound was subdivided into 100 “new pence” (abbreviated “p”), each of which was worth 2.4 “old pence” (which were abbreviated “d”). In Ireland, the Irish pound had a similar £sd currency structure and similar changes took place.

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